BIST 30 index-based contract starts the week with a decline

The December-dated index contract traded at 8,224.00, which is 0.3 percent below the previous normal session close, during the opening session.

The index contract, which followed a bearish trend on Friday, completed the normal session at 8,250.00 points, 3.1 percent below its previous close. The index contract continued its decline in the evening session, falling to 8,240.50 points.

Analysts reminded that in global equity markets, trading is not taking place in many stock exchanges due to the Christmas holiday, and that liquidity is quite low in the few exchanges that remain open.

Stating that pricing in money markets suggests an 85 percent probability that the US Federal Reserve (Fed) will begin cutting policy rates in March, analysts noted that signals from macroeconomic data could be influential on the bank's steps.

Analysts stated that the financial services confidence index data will be monitored domestically today, and noted that from a technical perspective, 8,200 and 8,100 points are support levels for the index contract, while 8,300 and 8,400 levels are resistance positions.

News Source: 12punto